Singaporean robotics firm Ross Digital has secured SGD $4.2 million (approx. $3 million) in a Series A funding round led by food conglomerate Fraser and Neave. The funding round included participation from existing investors Frasers Property and zVentures, the corporate venture arm of Razer. Ross will use the capital to accelerate the development of new products and to expand into Thailand and Malaysia. The company is also partnering with Fraser and Neave to distribute its range of robotic, automation, digital and AI solutions in Southeast Asia. Ross, which is a robotics and automation business focused on food and beverage, has already deployed 15 robotic arms in the region, including to Martell Cognac, Timber+, Coffee & Toast and RazerCafe. The company is aiming to install another 40 into the market by the end of the year. “It is very exciting for us to be able to partner with a food and beverage industry leader like Fraser and Neave who would be able to help build the future of the food and beverage industry within the region,” said Gavin Pathross, Ross founder and CEO. “Through this investment and strategic partnership, we believe that we will be able to leverage off each other’s strengths to deliver phenomenal new market offerings for the more discerning Gen Z consumers.” Ross has now raised SGD $21.2 million (approx. $15.2 million) since its inception in 2017. #robotics #RossDigital #Singapore

Cirkul, a beverage company known for developing patented flavour cartridges, has raised $70 million in a Series C funding round. The round was led by private equity firm SC Holdings. According to Cirkul, the company has seen a growth of over 150% per year since its launch. Founded in 2018, Cirkul produces over 50 flavour cartridges that can be inserted into its water bottles. Cirkul’s bottles, cartridges and accessories are available at Walmart stores across the US. Co-founder and CEO, Garrett Waggoner, said: “Today, consumers are driving major shifts in the beverage industry, increasingly focused on health and reducing their environmental impact but aren’t willing to compromise on convenience or delicious flavour…This fundraiser will help us continue to capitalise on the strong customer demand for our products which are tailor-made for today’s consumers.” The money raised in the round gives Cirkul a pre-money valuation of $1 billion. #Cirkul #US

The Alkaline Water Company has appointed its current director, Frank Lazaran, to the role of CEO. Lazaran will succeed CEO Ricky Wright, effective immediately. Prior to joining the company, Lazaran held managerial level positions at Marsh Supermarket, Winn-Dixie Stores, Randalls and Tom Thumb Supermarkets. Chairman, Aaron Keay, said: “We are excited to have Frank join The Alkaline Water Company as the chief executive officer and extremely confident Frank and the team can lead us into the next phase of our growth with Alkaline88. Frank brings over 40 years of strategic execution, operational management and innovation in the retail sector, as well as capital markets experience that will help continue to accelerate the company’s top-line growth along with bringing heightened attention towards profitability for the company.” Keay added: “With evolving economic conditions that are impacting both retailers and consumers across multiple channels, Alkaline88 will continue to put its attention to improving the company’s bottom line with a renewed focus towards profitability in the foreseeable future. The appointment of Frank is consistent with his personal track record of being put into similar positions over his career and is aligned with the company’s direction, along with our board of director’s mandate, to evaluate optimisation measures while continuing the brand’s consistent and stable growth.” Reasons for Wright’s stepping down were not disclosed. #CEO #TheAlkalineWaterCompany

The Coca-Cola Company has announced that it will phase out its Honest teas product line, with plans to continue producing the “quickly growing” Honest Kids juice products. Coca-Cola will discontinue its Honest teas portfolio at the end of 2022. The Honest brand was founded in 1998 by Seth Goldman and Barry Nalebuff. Coca-Cola took a 40% investment stake in 2008, before fully acquiring the brand in 2011. Today’s announcement by Coca-Cola that they will be discontinuing @HonestTea is a gut punch to all the sweat, tears, and incredible passion that went into building our beloved brand. (1/11) — Seth Goldman (@HonestSeth) May 23, 2022 The soft drinks giant said: “The Coca-Cola Company is challenging itself to think differently about how its brands help accelerate business transformation, reflect consumer choice and promote growth as a company. This means rationalising its lineup of drinks and prioritising fewer, bigger brands with the greatest potential for scale and profitable growth.” Sabrina Tandon, group director, RTD Tea, Coca-Cola North America Operating Unit, added: “We are phasing out the Honest teas product line, but are not selling the Honest brand”. Meanwhile, the Honest Kids juice offerings, along with the national Gold Peak and regional Peace Tea brands will remain part of the company. “Shifting from a three-brand tea portfolio to a prioritised two-brand tea lineup will free up investment resources and supply chain capacity to better meet consumer needs and capture share in the category,” said Tandon. “We believe Gold Peak and Peace Tea are best positioned to meet consumer She continued: “Ongoing supply chain challenges mean we are having to prioritise production and distribution of certain product SKUs, and that we’ve been unable to meet consumer demand for Gold Peak. This, among other factors, helped drive this very difficult decision”. #HonestTea #TheCocaColaCompany #US

Starbucks has signed a definitive agreement to divest its Evolution Fresh juice brand and business to Butterfly portfolio company, Bolthouse Farms. Evolution Fresh is a California-based producer of primarily organic, cold-pressed juice and smoothie products. Private equity firm Butterfly specialises in the food sector with a particular focus on high-growth, on-trend categories. Evolution Fresh will join Butterfly’s brand portfolio which includes Chosen Foods, MaryRuth Organics, Orgain, and Pete and Gerry’s Organics. Hans Melotte, Starbucks executive vice president of global channel development, said: “Evolution Fresh has grown steadily over the last several years as a result of our partners’ hard work and commitment to the brand. We feel there is a great runway and opportunity to take Evolution Fresh to the next level and Bolthouse Farms’ considerable experience and success in the premium beverage category will allow the brand to continue growing.” He continued: “Bolthouse Farms shares the same values and commitment to putting people first in everything they do, which affirms for us that we have found the right opportunity for Evolution Fresh”. Starbucks acquired Evolution Fresh in 2011 for $30 million. Starbucks stores within the US will continue to sell Evolution Fresh products. The transaction, which is for an undisclosed amount, is expected to close later in 2022. #US #Starbucks #BolthouseFarms #EvolutionFresh #Butterfly

Mashgin, developer of an AI-powered touchless self-checkout system, has raised $62.5 million in a Series B funding round led by venture capital firm NEA. The capital will be used to grow Mashgin’s team and accelerate its expansion. The company has also achieved a valuation of $1.5 billion, elevating it to ‘unicorn’ status. Mashgin’s touchless checkout system does not require barcodes or RFIDs, and instead uses AI and computer vision to identify products, allowing consumers to pay in ten seconds or less. According to the California-based company, its checkout system is “four times faster than cashiers and traditional point-of-sale”. The machines are currently deployed in more than 800 locations, including convenience stores, sports stadiums, airports, universities, and corporate and hospital cafeterias. Mashgin’s chief technology officer and co-founder, Mukul Dhankar, said: “The global pandemic accelerated the adoption of touchless technologies, but consumer behaviour has turned them into the baseline expectation. Our mission is to leverage artificial intelligence to create real-world benefits for people. By making time-draining tasks fast and seamless, we enable consumers to get back to what really matters, while freeing up businesses to truly innovate on the customer experience to build lasting loyalty.” #Mashgin #touchlessselfcheckout #US

The Coca-Cola Company has expanded its Freestyle portfolio with the introduction of the New Compact Freestyle smart drinks dispenser in Europe. The New Compact Freestyle machine is a smart dispenser that allows users to personalise their drinks while using their own reusable bottles, therefore reducing carbon emissions and packaging. According to Coca-Cola, the new product is “the smallest unit in the most digitally advanced range of Freestyle machines”. The smart dispenser enables digital consumer interaction, including options for consumers to personalise temperature and carbonisation levels, with around 40 beverage choices available. Trials of the New Compact Freestyle will begin this month at both at-work and on-the-go outlets in France and Belgium, in partnership with Coca-Cola Europacific Partners. Meanwhile, trials are also planned for the UK and additional European countries throughout 2022. Coca-Cola’s president of Europe, Nikos Koumettis, said: “The findings of our preliminary analysis promisingly show that the New Compact Freestyle can have a lower carbon footprint per serving compared to traditional packs, such as cans and PET bottles. This is hugely encouraging given the importance to deliver meaningful action on sustainability for Coca-Cola, and our customers and consumers.” He continued: “In developing this new dispenser, we’ve used the latest in technology to offer a wide variety of personalisation options in line with both consumers’ digital-led lives and their appetite for choice. These new trials mean that consumers can prepare their own perfect drink, just as they like it, and can use less packaging and carbon to do so – a win-win for them and the environment.” #CocaCola #Europe #smartdispenser

365 Retail Markets has announced the acquisition of Australian vending management software (VMS) company, Sentry, for an undisclosed sum. Sentry is a vending machine and micro market management platform that includes a full-featured web application and a driver and inventory management mobile app. The platform’s features include “intuitive planograms and optimised merchandising, routing, market maintenance and picking systems,” which are all supported by a “back-office system”. The acquisition expands 365’s product portfolio and supports its growth plans. 365 Retail Markets CEO, Joe Hessling, said: “Sentry is a perfect fit within our long-term strategy of turning the data from our vast point-of-sale fleet into actionable insights for our global customer base of over 2,000 operators”. He continued: “We will continue to invest in VMS and other data-related technologies as the demand for self-service technology continues to rapidly expand…We intend to begin offering a 365 VMS product to the field within the summer of 2022.” Late last year, 365 purchased Scottish catering software company, Spoonfed. #365RetailMarkets #Sentry

US industrial aluminium company, Novelis, is investing over $30 million to build a new continuous annealing line at its facility in Plettenberg-Ohle, Germany. The new line will increase the plant’s capacity for aluminium used in the production of coffee capsules, meeting the increased demand for sustainable packaging solutions. Novelis says that the investment will strengthen its position in the high-recycled-content packaging market. According to Novelis, aluminium offers “unique” barrier properties and protects the freshness and aromas of capsulated coffee from moisture, light and air. Emilio Braghi, EVP and president at Novelis Europe, said: “The investment demonstrates our commitment to serve as a trusted partner for our food and packaging industry customers, and create more sustainable solutions for consumers”. He continued: “Increasing the use of recycled aluminium helps us reduce the use of natural resources, strengthen the circular economy and thus limit climate change. Our sustainability commitments include a 30% carbon footprint reduction by 2026 and achieving carbon neutrality by 2050 or sooner, thereby helping our customers reach their sustainability goals as well.” Novelis expects the line to commence operations in spring 2024, with construction preparations to begin after final government approval. #coffeecapsules #Novelis

New York-based start-up, Bubluv, has launched the “first” ready-to-drink, better-for-you boba alternative into the retail market. The release is available in three variants: Black Milk Tea with Tapioca Pearls, Matcha Soy Latte with Tapioca Pearls and Passionfruit Oolong Guava with Tapioca Pearls. Each flavour is brewed with loose leaf tea and is sweetened with all-natural sweeteners, including monk fruit and erythritol, “resulting in a lightly sweet and refreshing taste”. The ready-to-drink bubble tea has no added sugar or artificial ingredients, contains less than 50 calories per bottle and provides antioxidants – as well as being keto-friendly and gluten-free. Diana Ark Chen, CEO and founder of Bubluv, commented: “After learning how unhealthy boba tea could be, I decided to create Bubluv Bubble Tea so I could enjoy one of my favourite drinks without worrying about how much sugar I was consuming. The incredible pre-launch demand has been a clear indicator that I was not alone in my sentiment. Consumers deserve to experience bubble tea in a simple and better-for-you way and we’re excited to bring this first-of-its-kind beverage to market.” The drinks are available exclusively on the brand’s website. #bubbletea #Bubluv #US

Swedish water purification company, Bluewater, has announced a merger agreement with US-based FloWater, after investing $15 million in the company back in 2018. The companies claim that the move “will transform the water industry worldwide,” helping accelerate innovation and expanding both businesses’ footprints into other key markets in the Middle East, China and South Asia. The merger will also enable both corporations to leverage each other’s consumer and business water dispensing expertise, research and development, and global commercialisation and supply capabilities. Founded in 2013, Bluewater develops water purification solutions for homes, businesses and public vending. The corporation has sales across the US, Europe, the Middle East, China, Southeast Asia and South Africa, and production facilities in Sweden and China. Established the same year, FloWater is a manufacturer of water purifying refill stations for schools, gyms, offices and hotels. FloWater’s customers include Red Bull, Apple, Marriott and Google, among others. Bluewater’s founder and CEO, Bengt Rittri, said: “This union is a major milestone for Bluewater in our efforts to upscale and strengthen our position in the global household, commercial and public dispensing water industry”. FloWater’s founder, Rich Razgaitis, added: “This merger provides us another big step towards ending the business of “big bottled water” by providing superior alternatives to single-use plastic with the world’s best-tasting and trusted water”. He continued: “Everyone deserves access to clean, great-tasting drinking water, and the environment deserves to be free of plastic water bottles. Today, this merger brings together two passionate teams committed to making this a reality worldwide.” #Bluewater #FloWater #Sweden #US

Nayax has announced the introduction of EasiFit, a bill validator kit that accepts both cash and cashless payments. EasiFit will work with Nayax’s cashless payment solution VPOS Touch, which will simplify the acceptance of both cash and cashless transactions on an operator’s machine. According to Nayax, “EasiFit helps mitigate supply chain concerns about sourcing technical parts and manufacturing an additional device in the current environment, resulting in a continued timely and consistent production supply to meet our customers’ needs”. Nayax’s CEO, Carly Furman, holding EasiFit. Nayax’s CEO, Carly Furman, said: “Nayax is continually looking for ways to add value to our customers’ businesses and enable growth, and these new kits serve to provide operators the easiest way to work with existing cash bill validators or upgrade to our devices. We recognised that in this environment, the best solution would be to keep it simple and easily accessible, ensuring that there are no inventory concerns or firmware needs.” She continued: “The beauty of this solution is that operators can use our flagship device, the VPOS Touch, coupled with a simple proprietary adaptor to allow for cash and cashless acceptance at the machine from the same knock-out hole. This means no additional device SKUs to carry, worries about device re-certification or additional device firmware to manage.” #cashlesspayments #Nayax